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May 12, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
look
-
(
32872)
We had a gap down opening yesterday mainly on the back of some
nervousness seen in the global markets. Mostly financial space leads
from the front and yesterday too, the BANKNIFTY led the down move
at the opening. Fortunately, there was no further aberration seen post
the initial trades. In fact, market did manage to hold their morning
lows and traded within a range throughout the remaining part of the
session. Eventually, banking index ended the session with less than a
percent cut. Honestly speaking, on Monday at the close it appeared
as if the key indices are likely to breakout in the upward direction. But
global sell off dented the possibility and even resulted in a surprise
gap down yesterday. But we must accept the fact, our market has an
inherent strength which is not letting them fall sharply or on a
consistent basis. In fact, all intermediate declines are comfortably
getting bought into. Also, since last few days traders are not bother
at all where indices are heading. We can see complete negligence in
the index segment and a tremendous buying interest in various
thematic moves. So ideally traders should continue with this
approach and as long as levels are concerned for BANKNIFTY, 33150
33500 are to be seen as intraday hurdles; whereas on the lower
side, 32600 to be considered as a key support. Traders should also
take a note that Thursday being the holiday, the weekly expiry is to
be concluded today and hence, one should position accordingly.
Key Levels
Support 1 – 32600 Resistance 1 – 33150
Support 2 – 32250 Resistance 2 – 33500
Exhibit 2: Nifty Bank Daily Chart
Traders are advised to trade with a stock specific approach as there are
much better trading opportunities seen there. The midcap index
continued its outperformance as it has already given a breakout from
resistance. On the other hand, the PSU stocks have recently seen good
buying interest and in yesterday’s session many stocks from this basket
provided mesmerizing moves. Traders should continue to focus on
such outperforming pockets which are delivering good short term
returns.
Key Levels
Support 1 – 14770 Resistance 1 – 14950
Support 2 – 14690 Resistance 2 – 15000
Sensex (49162) / Nifty (14851)
The SGX Nifty hinted at a negative opening for our market and in line
with that, we started the day gap down below 14800. However, we did
not slip much from the opening levels and the index recovered much of
the losses around noon. But since the participation was missing from the
index heavyweights, Nifty again corrected and ended the day at 14850.
We had a gap down opening post which we saw some recovery in the
first half. Although the index then consolidated in a range in the later
half, it was a day of stock specific momentum wherein the broader
markets continued to witness good buying interest in spite of no
momentum in the index heavyweights. Although yesterday’s correction
has not distorted the short term charts, the 15000 mark has certainly
become a stiff hurdle which needs to be surpassed for providing a
driving force to the index. The ongoing consolidation indicates that the
market wants to spend some more time in the ongoing corrective
phase. However, this seems to be just a time-wise correction and hence,
we are witnessing good buying interest in the broader markets. The
immediate supports for Nifty are placed around 14770 and 14690
whereas resistance is in the range of 14950-15000.
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Nifty Vs OI
14000
14200
14400
14600
14800
15000
15200
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
4/23 4/27 4/29 5/3 5/5 5/7 5/11
(`000)
Openinterest Nifty
View
Opening with gap has been very normal in last couple
of day. Yesterday, we had a gap down opening tad
below 14800 mark; however, we didn’t see any major
fall thereafter. Nifty slowly recovered in the noon but
due to some profit booking at higher levels concluded
the day with the cut of 0.60%.
FIIs were net sellers in the cash segment to the tune
of Rs. 336 crores. In index futures front, they sold
worth Rs. 2220 crores with good amount of rise in
open interest indicating fresh short formation in
yesterday’s session.
Post opening index recovered and manage to recoup
some of the losses. We saw decent open interest
addition in Nifty and considering the price action its
seems most of them are on long side. In case of
BankNifty, we saw decent unwinding. As far as
options activities are concerned, we saw decent
build-up in 15000-15100 call options; which may now
act as a sturdy hurdle. On the other side, 14650 and
14800 put strikes added some positions. Surprisingly,
FIIs preferred being net sellers in equities, index and
stock futures. The premium of Nifty futures too have
shrunk. However, the border market looks very
strong and hence, its advisable to stick to stock
centric approach until we don’t see any relevant price
action in the indices.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 4.43%.
Bank Nifty futures open interest has decreased by
14.56% as market closed at 14850.75 levels.
The Nifty May future closed with a premium of 27.50
point against a premium of 42.30 point in last trading
session. The June series closed at a premium of 55.50
point.
The INDIA VIX decreased from 22.22 to 19.83.
At the same time, the PCR-OI of Nifty has decreased
from 1.33 to 1.27.
Few of the liquid counters where we have seen high cost
of carry are MGL, BEL, RAMCOCEM, M&MFIN AND
APOLLOHOSP
.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CUMMINSIND 1232400 30.16 829.55 -0.16
VOLTAS 3797500 21.85 1010.25 4.16
COALINDIA 46620000 20.76 155.70 5.78
RAMCOCEM 2153050 19.42 937.90 -1.52
SIEMENS 981750 14.61 1948.65 3.55
TATACHEM 10640000 13.99 696.70 1.71
CANBK 71647200 13.68 150.10 2.03
CHOLAFIN 6530000 13.57 550.95 -0.56
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NATIONALUM 85935000 -7.08 79.50 -2.39
TATASTEEL 46389600 -6.69 1233.90 1.26
MINDTREE 1544000 -5.58 2200.90 -1.36
MARICO 8900000 -5.24 479.60 1.50
PAGEIND 65310 -5.02 28897.30 -1.18
PNB 311088000 -4.99 35.05 -0.43
DLF 28825500 -4.95 265.50 -0.32
ULTRACEMCO 2600400 -4.91 6490.50 1.14
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.27 0.91
BANKNIFTY 0.90 0.89
RELIANCE 0.41 0.33
ICICIBANK 0.63 0.61
INFY 0.54 0.56
Historical Volatility
SCRIP HV
BHEL 72.81
COALINDIA 42.05
IOC 39.40
NTPC 38.39
CONCOR 49.47
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Technical & Derivatives Report
May 12, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Spot =
14850.75
FII Statistics for May 11, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3328.06 5548.22 (2220.16) 110899 11419.09 9.90
INDEX
OPTIONS
392738.75 395979.20 (3240.45) 1069154 111108.01 6.94
STOCK
FUTURES
12501.03 13591.07 (1090.04) 1402539 105129.85 0.23
STOCK
OPTIONS
13793.70 13783.08 10.62
199911 15214.94 7.27
Total 422361.54
428901.57
(6540.03) 2782503
242871.89
3.58
Turnover on May 11, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 3,01,147 28227.06 37.97
Index Options 4,29,09,576 40,00,749.72 71.72
Stock Futures 8,84,036 70512.62 5.98
Stock Options 21,11,738 1,73,819.57 8.92
Total 4,62,06,497 42,73,308.97 65.86
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14900 219.85
50.35 49.65 14950.35
Sell 15000 169.50
Buy 14900 219.85
94.80 105.20 14994.80
Sell 15100 125.05
Buy 15000 169.50
44.45 55.55 15044.45
Sell 15100 125.05
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14800 243.10
41.30 58.70 14758.70
Sell 14700 201.80
Buy 14800 243.10
78.85 121.15 14721.15
Sell 14600 164.25
Buy 14700 201.80
37.55 62.45 14662.45
Sell 14600 164.25
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
14200 14300 14400 14500 14600 14700 14800 14900 15000 15100 15200 15300 15400 15500
Call Put
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Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
728
745
768
785
807
ASIANPAINT 2,506 2,531
2,547
2,572
2,587
AXISBANK
697
702
708
713
719
BAJAJ-AUTO 3,778 3,829
3,862
3,912
3,945
BAJFINANCE 5,356 5,390
5,424
5,459
5,492
BAJAJFINSV 11,043
11,118
11,214
11,289
11,386
BPCL
441
451
458
469
475
BHARTIARTL
558
563
569
574
580
BRITANNIA 3,378 3,398
3,416
3,437
3,455
CIPLA
877
884
895
902
913
COALINDIA
141
148
153
160
164
DIVISLAB 3,984 4,029
4,100
4,145
4,216
DRREDDY 5,227 5,262
5,306
5,340
5,384
EICHERMOT 2,386 2,429
2,453
2,496
2,521
GRASIM 1,404 1,427
1,448
1,471
1,492
HCLTECH
901
904
908
911
916
HDFCBANK 1,378 1,391
1,408
1,420
1,437
HDFCLIFE
663
667
674
679
686
HDFC 2,417 2,441
2,471
2,495
2,526
HEROMOTOCO 2,785 2,812
2,828
2,854
2,870
HINDALCO
402
408
414
419
426
HINDUNILVR 2,376 2,389
2,407
2,421
2,439
ICICIBANK
599
604
609
614
618
IOC
95
100
102
106
109
INDUSINDBK
909
929
943
963
977
INFY 1,316 1,324
1,332
1,339
1,348
ITC
202
203
205
206
208
JSW STEEL
716
725
740
749
764
KOTAKBANK 1,727 1,741
1,768
1,782
1,809
LT 1,363 1,373
1,387
1,397
1,410
M&M
760
768
774
782
787
MARUTI 6,627 6,682
6,715
6,770
6,804
NESTLEIND 16,605
16,737
16,843
16,976
17,082
NTPC
104
108
111
115
118
ONGC
108
113
116
121
124
POWERGRID
216
219
222
226
229
RELIANCE 1,899 1,916
1,927
1,944
1,956
SBILIFE
978
989
1,002
1,014
1,027
SHREECEM 26,443
26,978
27,279
27,815
28,116
SBIN
350
357
362
369
374
SUNPHARMA
683
696
709
721
734
TCS 3,077 3,100
3,114
3,137
3,151
TATACONSUM
614
628
639
653
664
TATAMOTORS
302
309
315
322
327
TATASTEEL 1,150 1,192
1,219
1,261
1,288
TECHM
962
969
978
986
995
TITAN 1,416 1,426
1,442
1,451
1,468
ULTRACEMCO 6,164 6,327
6,474
6,637
6,783
UPL
660
672
680
693
701
WIPRO
509
514
519
523
528
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Technical & Derivatives Report
May 12, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]roking.com
Ruchit Jain Senior Analyst - Technical & Derivatives ruchit.jain@angelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com